Foreclosures in Connecticut dropped in March, year-over-year, but the state is still seeing a rising trend during 2010. WNPR’s Harriet Jones reports.
Foreclosure specialist RealtyTrac brings out its March numbers today, and around the nation total filings were at their highest level since the firm began keeping records in 2005. Looking over the first quarter as a whole, foreclosures jumped 35% from the same period in 2009.
In Connecticut, the picture is mixed – with almost 3,000 filings in March, foreclosures were up 22% from February, but compared to March last year, the numbers were actually down just over 3%. RealtyTrac executives say they believe the numbers are being held down by foreclosure mitigation programs at both the state and federal level. This week, the Obama administration complained about lenders being too slow to make investments in federally backed loan modification efforts. In Connecticut, lawmakers have just agreed to fund the state’s foreclosure mediation program for another year.
For WNPR, I'm Harriet Jones.